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DUBLIN, July 15, 2022 /PRNewswire/ — The “Global Lithium-Ion (Li-Ion) Battery Market Report 2022, By Power Capacity, By Application, By Component, By Type, By Chemistry” report has been added to ResearchAndMarkets.com’s offering.
The global lithium-ion (li-ion) market is expected to grow from $41.93 billion in 2021 to $48.86billion in 2022 at a compound annual growth rate (CAGR) of 16.5%. The market is expected to reach $85.72 billion in 2026 at a CAGR of 15.1%.
Asia Pacific was the largest region in the lithium-ion (Li-ion) market in 2021. North America was the second-largest region in the lithium-ion (Li-ion) market. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The growth of the lithium-ion batteries market is mainly driven due to the presence of high energy density features in lithium-ion batteries. High energy density helps the lithium-ion battery to run for a longer period. Most of the lithium-ion batteries used in portable devices are cobalt-based which offers the highest energy density.
The energy density of the lithium-ion batteries is 100-265 Wh/kg or 250-670 Wh/L, which is one of the highest energy densities of any battery technology. High energy density in a lithium-ion battery made it the most Preferred battery to be used in mobile phones, laptops, cameras and automobiles. Therefore, positively impacting the lithium-ion battery market’s growth.
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